Pactiv Evergreen Inc. announces IPO pricing

LAKE FOREST - Pactiv Evergreen Inc., a manufacturer and distributor of food-service products now known as Reynolds Group Holdings Limited, announced the pricing of its initial public offering at $14 per share.

The company plans to offer 41 million shares of common stock while granting ed the underwriters a 30-day option to purchase up to an additional 6.15 million shares at the initial public offering price, less underwriting discounts and commissions. Graeme Hart, the owner of the company and sole shareholder prior to the offering, has agreed to purchase 3.57 million shares at the initial public offering price.

The stocks began trading on the Nasdaq Global Select Market on Thursday under the ticker symbol "PTVE." The offering is expected to close on Sept. 21, subject to customary closing conditions.

Pactiv Evergreen also makes food merchandising products and fresh beverage cartons. It supplies its products to a broad and diversified mix of companies, including restaurants, food-service distributors, grocery retailers and beverage producers, food packers and food processors.